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Department of Trade and Industry (DTI) Secretary Ramon Lopez met with his Danish counterpart, Minister for Industry, Business and Financial Affairs Brian Mikkelsen, to discuss trade and investment opportunities between the Philippines and Denmark, especially concerning the PH government’s massive infrastructure program. “The current economic growth momentum, rating upgrades, and aggressive infrastructure programs offer a […]
While the Philippines consumes as much coffee as countries such as the United States, Brazil, Japan, and the European Union, the country is also looking to be one of the top producers of top-grade coffee around the world. To make this a reality, President Rodrigo Duterte last March 7, 2017 signed the Philippine Coffee Industry […]
The Department of Trade and Industry (DTI) sees improvement in the ease of doing business in the country with the implementation of a Joint Memorandum Circular (JMC) directing local government units (LGUs) to streamline the issuance of building permits and certificates of occupancy. For the first time, the JMC 2018-01, which was issued by the […]
At least 24 Maranao entrepreneurs received assistance from the Small Business Corporation (SB Corp) in the form of Pondo sa Pagbabago at Pag-asenso (P3) loans to help bring back the business environment in the war-torn city. SB Corp, the micro-financing arm of the Department of Trade and Industry (DTI) released a total of P245,000 to […]
Senator Loren Legarda congratulated the Administration’s economic team as she welcomed the investment upgrade of the Philippines’ Foreign-Currency Issuer Default Rating (IDR) from its 2013 rating of “BBB-” to “BBB” issued by the credit rating agency Fitch Ratings. The new rating provides the country with a “stable” outlook, which means that the “upside and downside […]
Senator Joel Villanueva introduced amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Bill proposing to increase taxes on coal and mining. With 11 affirmative votes, one negative and one abstention, the Senate approved the amendment raising the coal tax from P10 per metric ton to P300 per metric ton. “The coal tax […]
National Electrification Administration (NEA) Administrator Edgardo Masongsong has encouraged electricity consumers, especially those living in rural and remote areas of the country, to make use of the opportunities offered by electricity to improve their lives. Masongsong said this during the 37th Annual General Membership Assembly (AGMA) of Leyte IV Electric Cooperative, Inc. (LEYECO IV) […]
Mass housing projects that are worth P2 million and below located outside of Metro Manila will continue to enjoy value-added tax (VAT) exemption under the Senate version of the Tax Reform for Acceleration and Inclusion (TRAIN) bill. The Housing and Urban Development Coordinating Council (HUDCC) estimated that from 2017 to 2022, the total housing […]
Senator Bam Aquino urged rural banks to expand their services to more small businesses, saying many local entrepreneurs still need access to reasonable loan packages that can help them grow their business. Aquino issued this plea during his speech at the 60th Charter Symposium of the Rural Bankers Association of the Philippines (RBAP). “Nagpapasalamat […]
The IT-Business Process Association of the Philippines (IBPAP) said IT-BPM investment pledges in the country are now showing “signs of recovery”, thanks to the Senate version of the first tax reform package which retained the current incentives of the industry. “The Senate did not touch the industry’s tax incentives to enable the country to […]